Slide 1: Medifast Q1 2026 Earning Supplement
Medifast® Q1 2026 Earning Supplement © 2026 Medifast, Inc. All Rights Reserved. 1
Slide 2: Safe Harbor Statement
Safe Harbor Statement This presentation contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking s
Slide 3: Medifast Q1 2026 Highlights
Medifast® Q1 2026 Highlights Revenue and Loss Per Share at Upper End of Guidance Gross Profit Margin of 68.1% was down 470 bp versus Q1 2025 • Impacted by loss of leverage on fixed costs Operating Income Declined $2.0M vs. Last Year • Loss of leverage on fixed costs, partially offset by higher marke
Slide 4: Q1 2026 By The Numbers
4 $76M $160M ($0.19) REVENUE WORKING CAPITAL LOSS PER SHARE Q1 2026 By The Numbers $5,432 14,000 $169M REVENUE PER ACTIVE ACTIVE EARNING CASH & CASH EQUIVALENTS EARNING COACH COACHES AND INVESTMENTS © 2026 Medifast, Inc. All Rights Reserved. 4
Slide 5: Early Signals of Business Improvement
Early Signals of Business Improvement Coach Productivity • 1Q coach productivity gain of 19% Y/Y & 16% Q/Q • Highest Y/Y increase in coach productivity for any quarter in 5 years & highest sequential increase in 8 years – Highest coach productivity level since Q3 2024 – Expected to continue to rise
Slide 6: Transitioning to 3.0 Strategy Execution
Transitioning to 3.0 Strategy Execution TRANSFORMATION 3.0 STRATEGY EXECUTION What We Accomplished What Happens Now 2024–2025 2026 • Repositioned offer around metabolic health • Accelerate coach-led client acquisition • Introduced a new science-based approach and engagement to metabolic health: • La
Slide 7: From Weight Loss to Metabolic Health
From Weight Loss to Metabolic Health SCIENCE-DRIVEN INNOVATION COACHES AT THE CENTER SCALABLE BUSINESS MODEL 40+ years of scientific heritage Human connection is core to approach No inventory means coaches can scale without overhead Once-in-a-generation opportunity to redefine wellness, as 90%+ US a
Slide 8: Metabolic Synchronization: Medifast's Breakthrough Science For Metabolic Health
Metabolic Synchronization®: Medifast’s Breakthrough Science For Metabolic Health Metabolic Synchronization Outcomes Targets the root of metabolic dysfunction to Delivers strong & targeted fat burn, creating improve metabolic health beyond weight loss conditions for improvement in body composition,
Slide 9: The Coach Engine
THE COACH ENGINE 9 +19% +16% Coach Productivity YOY – Sequential – Largest Quarterly Gain Highest Sequential Increase in 5 Years in 8 Years $5,432 Average Revenue Per Active Earning Coach up 19.2% YOY 2x Record-High % Higher Client Acquisition for of New Clients from Referrals – Coaches Utilizing th
Slide 10: Looking Ahead: Building for Sustainable Growth
Looking Ahead: Building for Sustainable Growth Strategy Stays Consistent & Clear Medifast remains a science-based, coach-guided system that is moving upstream to help people achieve long-term metabolic health Market Opportunity is Significant 9 of 10 US adults are metabolically unhealthy, equating t
Slide 11: Metabolic Health Transformation in Action
Metabolic Health Transformation in Action HEATHER SILVA The new 3.0 metabolic health offering has been more than a program - it’s been a continuation of a life-changing journey. I’ve lost the shame, the hiding, and the tears in my closet when nothing fit. In their place, I’ve gained not just muscle,
Slide 12: 2026 Guidance
12 Q2 2026 $60M - $80M ($0.50) – ($1.00) Q1 REVENUE Q1 LOSS PER SHARE FY 2026 2026 Guidance $270M - $300M ($1.55) – ($2.75) FY REVENUE FY LOSS PER SHARE © 2026 Medifast, Inc. All Rights Reserved. 12